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Nov 28, 2012
11/12
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the medicare modernization act requires medicare trustees to send a funding warning letter whenever medicare begins to rely on the treasury for more than 45% of its financing. the law then requires the president to submit a plan to congress on how he plans to address the shortfall. the trustees issue their first such warning back in 2007, and they have continued to issue one every year since. president bush submitted his plan. this president has ignored the warnings every year he's been in office. every year. here's another example. in 2010, the director of the nonpartisan congressional budget office warned that -- quote -- "the single greatest threat to budget stability of the federal government is the growth of federal spending on health care." yet, how did president obama and his allies respond to these warnings about overspending on health care? the increased federal spending on health care by $580 billion. that was the response, to increase spending on health care by $580 billion. that was their solution. as for social security, the only thing we hear from democrats is they don't want t
the medicare modernization act requires medicare trustees to send a funding warning letter whenever medicare begins to rely on the treasury for more than 45% of its financing. the law then requires the president to submit a plan to congress on how he plans to address the shortfall. the trustees issue their first such warning back in 2007, and they have continued to issue one every year since. president bush submitted his plan. this president has ignored the warnings every year he's been in...
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Nov 29, 2012
11/12
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CSPAN2
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according to medicare trustees, for instance, medicare paid $35 billion more to beneficiaries this year than it took in last year in payroll taxes. and its trust funds will be depleted 12 years from now if we don't act to save medicare in a responsible way. the other issue that is not being talked about very much at all is social security. in 2010 and 2011, social security expenditures, the benefits paid to retirees and the disabled, exceeded payroll tax revenue for the first time since 1983. so as a practical matter, we know that the federal government is borrowing to pay the social security needs of today. last year, 2011, the social security trustees reported that with benefits pay continuing to he can seed payroll -- exceed payroll, that the trust funds would be depleted in 2036, after which the program would have a net unfunded obstacles through the end of -- unfunded obligation through the end of the evaluation window and that net unfunded obligation would be $6.5 trillion. after reading the trustees' report last year, i drafted the defend and save social security act to preserve
according to medicare trustees, for instance, medicare paid $35 billion more to beneficiaries this year than it took in last year in payroll taxes. and its trust funds will be depleted 12 years from now if we don't act to save medicare in a responsible way. the other issue that is not being talked about very much at all is social security. in 2010 and 2011, social security expenditures, the benefits paid to retirees and the disabled, exceeded payroll tax revenue for the first time since 1983....
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97
Nov 28, 2012
11/12
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CSPAN2
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madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move towards serious deficit reduction without cutting social security, without cutting medicare, without cutting medicaid. we just had an election a few years ago -- a few weeks ago. november 6. and what the american people, ii think, said is the time is now for the wealthy to start paying their fair share of taxes. we have seen poll after poll after poll including from some very conservative people who are saying do not cut social security, medicare and medicaid. i think it is time for the united states senate and the congress to start listening to the american people. let us go forward with deficit reduction, but let us not do it on the backs of the elderly, the children, the sick or the poor. and with that, madam president, i would yield the floor. a senator: madam president? the presiding officer: the senator from rhode island is recognized. mr. whitehouse: thank you, madam president. we are working towards a national defense au
madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move towards serious deficit reduction without cutting social security, without cutting medicare, without cutting medicaid. we just had an election a few years ago -- a few weeks ago. november 6. and what the american people, ii think, said is the time is now for the wealthy to start paying their fair share of taxes. we have seen poll after poll after poll...
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Nov 28, 2012
11/12
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given what's in front of us, it's one thing to meet the needs under our federal requirements for medicare and medicaid. but when are we going to stop expanding programs that aren't truly our responsibility? the cause is great. it's appropriate for a government agency to help in times for the people who actually put their lives on the line for us. but is it a federal responsibility? and the question is, no, it's not. it's a state responsibility. and so as we assume more and more responsibilities for the states with budget deficits in excess of $1 trillion, what we're going to do is find ourselves at a point where we're going to have to make cuts in programs that are our responsibility. so all i would ask to you do is think about whether or not this is truly a responsibility of the federal government and whether or not we ought to be expanding the program -- well-intentioned, does great work. don't discount that. well-deserved. don't discount that. but is it the responsibility of the federal government? i would actually state to the chairman -- and i'd be happy to have a voice vote on this
given what's in front of us, it's one thing to meet the needs under our federal requirements for medicare and medicaid. but when are we going to stop expanding programs that aren't truly our responsibility? the cause is great. it's appropriate for a government agency to help in times for the people who actually put their lives on the line for us. but is it a federal responsibility? and the question is, no, it's not. it's a state responsibility. and so as we assume more and more responsibilities...
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65
Nov 26, 2012
11/12
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to say we're not going to touch medicare is to ignore the obvious. i don't want to go the paul ryan budget route of voucherrizing it, making it so expensive seniors can't pay for it but if we don't put our best talents together and make medicare a program that lasts beyond 12 years we are not meeting our obligation to the offices that we ran for. the last point, medicaid. what is medicaid? medicaid is insurance, health insurance for the poor. one out of three children in the state of illinois, their only health insurance is medicaid. more than half of the births in illinois, the prenatal care and well baby care all paid for by medicaid. but that's not the majority of what's spent on medicaid in my state. 60% is spent for the frail elderly and those with mental and physical disabilities who shall in institutional settings and they're broke. they've got social security, medicare and medicaid keeping them alive. when the paul ryan budget suggested cutting 37% out of medicaid my question to him is which group are you going to cut, paul? the children? the
to say we're not going to touch medicare is to ignore the obvious. i don't want to go the paul ryan budget route of voucherrizing it, making it so expensive seniors can't pay for it but if we don't put our best talents together and make medicare a program that lasts beyond 12 years we are not meeting our obligation to the offices that we ran for. the last point, medicaid. what is medicaid? medicaid is insurance, health insurance for the poor. one out of three children in the state of illinois,...